Unemployment is the condition of willing workers lacking jobs or "gainful
employment". In economics, unemployment statistics measure the condition and
extent of joblessness within an economy. A key measure is the unemployment
rate, which is the number of unemployed workers divided by the total
civilian labor force. The unemployment rate is also used in economic studies
and economic indexes such as the Conference Board’s Index of Leading
Indicators. Unemployment in an economic sense has proved a surprisingly
difficult thing to define, let alone "cure".
The terms unemployment and unemployed may sometimes be used to refer to
inputs to production that are not being fully used (apart from labor) — for
example, unemployed capital goods. In its most general, but uncommon usage,
unemployment might also denote objects not put to productive use.
Before industrialization unemployment has been said not to have been
recognized as an issue in rural areas, despite the "disguised unemployment"
of rural laborers having little to do, especially in conditions of
overpopulation.
From:
Wikipedia
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UNEMPLOYMENT